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Journal article

Ambiguity aversion and incompleteness of contractual form.

Abstract:
Subjective uncertainty is characterized by ambiguity if the decision maker has an imprecise knowledge of the probabilities of payoff-relevant events. In such an instance, subjective beliefs are better represented by a set of probability functions than by a unique probability function.

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Publisher:
American Economic Association
Journal:
American Economic Review More from this journal
Volume:
88
Issue:
5
Pages:
1207 - 1231
Publication date:
1998-01-01
ISSN:
0002-8282


Language:
English
UUID:
uuid:db411ab0-a3eb-4c16-9a2c-7f5343b09a75
Local pid:
oai:economics.ouls.ox.ac.uk:14692
Deposit date:
2011-08-16
ARK identifier:

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